- Token Type:ERC20 (Ethereum)
- Token Price:1 FAIRC = 0.05 USD
- Fundraising Goal:$25,000,000
- Total Tokens:1,200,000,000
- Accepts:ETH, BTC, LTC, EOS
- Soft Cap:$2,500,000
- Available for Token Sale:50%
- Pre-Sale Bonus:30% - 40%
- Early Investor Bonus:5% - 25%
The Faireum projects boasts it will overhaul the online iGaming industry with their real-time, decentralized casino gaming platform built on their own public blockchain.
A very familiar, uninspiring business model, seen before with the likes of CasinoCoin, Etherroll, Wager, Coinpoker, NoLimitCoin, Ethorse… The list could go on.
Consulting the whitepaper we find a vague, very poorly written, mismatch of technical terms, that lacks detail or any substance. Importantly, Faireum does not explain in any detail how exactly they intend to implement the tech behind their ambiguous plans.
Digging briefly into the vision, Faireum aims to tackle industry problems such as poor security, high fees, unfair odds and tax evasion, by implementing the trust, security and immutability benefits that a blockchain network brings.
In reality, these ‘industry problems’ are non-existent. The large companies in our established gambling industry already provide a low fee service, with very competitive odds and don’t really have too many issues with security.
The project is justifying a solution for a problem that is non-existent..
An initial look at the actual product, we find many of the links on the site are broken. These include the URL link to their iGaming Beta platform as well as all of the games on the site returning errors. Not a great first impression…
When we did manage to finally access the Beta, the UI, site and game design was actually very impressive, however deeper investigation revealed the actual software is all third party and not their own creation.
To their favour, the projects token metrics are reasonably balanced with a roadmap that seems reasonably well thought out and structured until 2021.
Hype wise, this project scores highly. A lot of time and money spent building their social reach and generally the reviews we see floating around for this project are very optimistic. The likes of Track ICO, ICO Marks, Top ICO List and ICO Bench have all awarded this project their highest accolades. – We find this baffling.
Is a blockchain network really required for a gambling site? No, not desperately. Will their utility token have any real value after ICO? Probably not. Finally, will the token value increase over time? we’re willing to take a gamble here and say no, it most likely won’t.